What is the G20?
The Group of Twenty, or the G20, is the premier forum for international economic cooperation. The G20 brings together the leaders of both developed and developing countries from every continent. Collectively, G20 members represent around 80% of the world’s economic output, two-thirds of global population and three-quarters of international trade. Throughout the year, representatives from G20 countries gather to discuss financial and socioeconomic issues. The G20 meetings will be discussing the global economic realities in order to achieve impressive results in the global economic environment, and it will also discuss common global issues, such as empowering human resources and preserving environmental resources.
The Engagement Groups work under the umbrella of the G20 to develop policy recommendations that are formally submitted to G20 leaders for consideration.
- Business 20 (B20)
- Civil 20 (C20)
- Labour 20 (L20)
- Think 20 (T20)
- Women 20 (W20)
- Science 20 (S20)
- Urban 20 (U20)
- Youth 20 (Y20)
Saudi Arabia Assumes 2020 G20 Presidency
In hosting its first G20 Presidency, it is an opportunity for the Kingdom to reflect its role regionally and internationally. The Saudi G20 Presidency began to host G20 meetings since 1 December 2019, leading up to the Leaders’ Summit in Riyadh on 21-22 November, 2020. The Saudi G20 Presidency will steer the collective work in 2020 under the theme of Realizing Opportunities of the 21st Century for All.
The Three Key Aims of the 2020 G20 Presidency
The Saudi G20 Presidency will steer the work of the G20 towards “Realizing Opportunities of the 21st Century for All.” The collective roadmap will focus on three aims:
- Empowering People, by creating the conditions in which all people – especially women and youth – can live, work and thrive.
- Safeguarding the Planet, by fostering collective efforts on food and water security, climate, energy and environment.
- Shaping New Frontiers, by adopting long-term and bold strategies to share benefits of innovation and technological advancement.
Meet the Aspirations of 3 Continents
“The Kingdom of Saudi Arabia is at the crossroads of three continents – Asia, Africa and Europe. In hosting the G20, the Kingdom will have an important role to play by sharing the perspective of the Middle East and North Africa region. We believe this will be a unique opportunity to shape consensus on international issues as we welcome the world to the Kingdom.”
HRH Prince Mohammed bin Salman Al-Saud
In hosting the G20 Presidency, it is an opportunity for the Kingdom to represent the Middle East and North Africa region, as well as the developing countries. It is also an opportunity to share its vision2030 that is closely align with the G20 objectives of macroeconomic stability, sustainable development, women empowerment, , and increased flow of trade and investment.
- Employing youth and preparing them for the labor market, especially those who are not involved in education or training.
- Providing opportunities for everyone, especially youth and women, and small and medium enterprises, and activating technology to strengthen financial inclusion for them.
- Empowering women by removing economic inequalities between the sexes, and supporting initiatives that benefit women.
- Supporting the local financial markets and combating the risks surrounding financial stability.
- Investing in infrastructure, and developing effective frameworks for private sector participation in infrastructure financing.
- Achieving food security and sustainable water management.
- Strengthening the role of emerging technologies to serve the digital economy, and improving the tools of global economic systems.
- Combating corruption and enhancing integrity.
- Developing the educational process and making it available fairly and effectively.
- Strengthening health care systems, pandemic preparedness and emerging threats to health.
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Last Modified Date: 10/03/2020 - 12:56 PM Saudi Arabia Time